In a recent published report, Kenneth Research has updated the market report for UV Absorbers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for UV Absorbers Market products.
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Global UV Absorbers Market
By Product (Benzotriazole, Benzophenone, Triazine), Application (Adhesives, Plastics, Coatings, Personal Care), and Region (North America, Asia Pacific, Europe, Latin America, Rest of the World) Market Size, Status and Forecast to 2025
The global UV absorbers market was valued at USD 690.3 million in 2016 and is projected to reach USD 1308.1 million by 2025, growing at a CAGR of 6.6% from 2017 to 2025.
UV absorbers are products that are used to soak up the harmful UV rays emitted through sun rays. The growing attention towards problems caused due to harmful emissions has resulted in added importance towards these products. The consumption of UV absorbers is expected to remain the highest in plastic manufacturing owing to increased resistance and durability.
1. Market Drivers
1.1 Growing application of greenhouse films in agricultural application
1.2 Growing demand for wood coatings
2. Market Restraints
2.1 Fluctuating costs of UV absorbers
2.2 Strict government legislations
The global UV absorbers market is segmented on the basis of product, application, and region.
1. Global UV Absorbers Market, by Product:
2. Global UV Absorbers Market, by Application:
2.4 Personal Care
3. Global UV Absorbers Market, by Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
4. BASF SE
5. Adeka Corporation
7. Milliken Chemical
8. 3V Sigma Spa
9. Everlight Chemical Industrial Co.
10. Sabo Spa
11. Mayzo Inc.
12. Apexical Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the UV absorbers market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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